Audit Completion date: 09-10-2017. Sr. Secretary Economic Relations Division, Ministry of Finance Sher-e-Bangla Nagar, Dhaka We have audited the accompanying Financial Statement of "Support Implementation of the Revenue Mobilization Program for Results: VAT Improvement Program (VAT Online Project)" financed by IDA under credit no.5426-BD as of 300' June, 2017 and for the year then ended. The preparation of Financial Statement is the responsibility of management. Our responsibility is to express an opinion on the Financial Statement based on our audit. 1. We conducted our audit in accordance with International standards on Auditing. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the Financial Statements are free from material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the Financial Statement. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall Financial Statement presentation. We believe that our audit provides a reasonable basis for our opinion. II. In our opinion, except as stated in the preceding paragraph and non-compliance of financial rules and regulations in subsequent observations along with the management letter following the Financial Statement gives a fair view in all material aspects of the financial position of "Support Implementation of the Revenue Mobilization Program for Results: VAT Inprovement Program (VAT Online Project ", as of 30th June, 2017 and the results of its operations and cash flows for the year then ended in accordance with the cash basis of accounting followed by the Government of Bangladesh. Ill. Opinion status: Un-qualified. (Mohammad .4mimul Ehasan Kabir) Deputy Director For Director General Foreign Aided Projects Audit Directorate Tel: 9361788 C.\Uses Admin UesktopMofiz FINAL 4 REPOR1TI556DA-VAT Onlime Project (,Fz Sir) Co,ct on copyd7 Support Implementation of the Revenue Mobilization Program for Results: VAT Improvement Program (VIP) Project(SIRMPR) Project Financial Statement As at 30 June 2017 In Lac Taka RPA through GoB 1 577.58 72.30 849.88 Total other Resources _ Imprest Account - _ TOTAL RESOURCES 577.58 272.30 849,88 CE.NDITURES & BANK BALANCES Expenditures Rent-a-Car 10.50 11.68 22.18 Printing & Binding 3.53 0.43 3.96 Stationery 0.82 0.62 1.44 Books and Periodicals 0.07 0.25 0.32 Advertisning and Publicity 4.57 - 4.57 Tfaining Expenses 117.70 4S.80 166.50 Seminar, Conference Expenses 9.63 31.82 41.45 Consultancy 311L76 150.54 462.30 l-lonorarium/Fees/Remuneration 5.69 5.24 10.93 Computer Consumable 2.68 6.40 9.08 Meeting Cost 1.20 0.78 1.98 Other Expenses 3.25 6.25 9.50 Repair & Maintenance-Office Buildings 8.64 9.49 18.13 Com puter and Accessories 77.33 - -77.33 Offic Equipment 10.89 - 10.89 Furnitures and Fixtures 8.72 - 8.72 Drawing and Disbursement Officer's Advance 0.60 - 0.60 Total Expenditure 577.58 272.30 849.88 Closing balances _ _ Total Closing balance - - TOTAL EXPENDITURES & BANK BALANCES 577.58 272.30 849. 88 Financial Management Specialist roject C rinator Md. Saidur Rahman Sarker, FCMP Financial Managcment Specialist ahrnUda BOQUrr SIRMPR: VIP (VAT Online PRoject; Project Coordinator Ro. Shar-eB la Nagar Obaka-o SI,RM PR: VIP (VAT Or,ne Proiect, World Bn n -ceonomic Relations Division Sher-e -Bangla Nagar, Dhaka. Project Financial Statements Notes to Financial Statements For the year ended on 30th June 2017 Government of Bangladesh Note-, Government of Bangladesh Funds are allocated RPA through GoB to cover project expenditure as specified in the Technical Assistance Project Proforma in the Annual Development Progrmmne for ye e. ar of the project. Any allocated funds that have not been expended by the end of a fiscal year was returned to Go8. RPA through GoB Contribution to project since inception are as follows(in Lac Taka) Inception to the For the year 2016- Inc-ption to the 30th 30th June,2016 2017 June,2017 Fund Released by GoB 708.49 293.00 1,001.49 Less: Surrender to GoB 130.91 20.70 151.61 Total GoB Resources 577.58 272.30 849.88 Note-2: Loan from LPnder/Donor Inception to the For the year 30th 'Inception to th 30th 30th June,2016 June, 2017 June,2017 Initial Advance Direct Payaments SOE Prcedures ___ ________ Non -SQ0E -Procedures _____ _____ ________ _______ Note-3: Other Resources Other resources consist of the following: Inception to the For the year 30th inception to the 30th 30th June,2016 June, 2017 Aune,2017 Project Revenues Exchanga gain/loss Total: Financial Management Specialist Project Coorinator I ( u I Md.Saidur Rahman Sarker, FCW Arl uca 0egurn Financial Managament Specialist Project Coordinalor SIRMPR: VIP (VATOae Project, ZIRMPR: Vi (VAT Otie e t * `RD.ShRs 4H lNaqar Dhaka-1201 Wvlord Bank i 1 nmi o.latics Dividon Note-4: Cash(Imprest) The project naintains one bank account a current account which is mantained with Janata Bank, Sher-e-Bangla Nagar, Dhaka-1207 to hold fund for Drawing and Disbursement Officer's Advance and others. At the year end the cash ba]3nces were as follows: Inception to the For the year 30th Inception to the 30 h 30th June,2016 June, 2017 Juie,2017 Cash in hand 7,082.93 (1,503.32) 5,579.61 Cash at Bank 52,917.07 1,503.32 54,420.39 Total 60,000.00 60,000.00 Financial anagernent Specialist Project Coorinator mi Saidur Rahman Sarer, FC!tr Finarviat ManagementSpecialist Aahnud Q icj'4 SIRMPR: VIP (VAT Online Proicl; Project Coordinator .0 Sw+ cr a 9IRM4PR: VIP "VAT Online 2roject W,orld Bank Wing -onomic Relations Division ,her-e -Bangla Nagar, Diake